8-KOther Events

CINTAS CORP 8-K Report, Corporate Update (Sep 29, 2011)

Filed September 29, 2011For Securities:CTAS

Summary

This Form 8-K filing from Cintas Corporation (CTAS) primarily addresses a related-party transaction disclosure concerning legal services. The company had previously committed to a proxy voting and corporate governance services provider that it would limit legal services from Frost Brown Todd LLC to $10,000 annually. This commitment was made in September 2010. During the subsequent twelve-month period, Cintas Corporation adhered to this commitment and did not utilize Frost Brown Todd LLC for legal services. This disclosure is important for investors as it demonstrates the company's adherence to its governance commitments and transparency regarding potential conflicts of interest, as Scott D. Phillips, a partner at Frost Brown Todd LLC, is the son of a Cintas board member, David C. Phillips.

Key Highlights

  • 1Cintas Corporation is filing a Form 8-K to disclose information regarding legal services from Frost Brown Todd LLC.
  • 2Scott D. Phillips, a partner at Frost Brown Todd LLC, is the son of Cintas's Board member David C. Phillips, indicating a related-party connection.
  • 3In September 2010, Cintas committed to a proxy voting and corporate governance services provider to limit legal services from Frost Brown Todd LLC to $10,000 annually.
  • 4During the twelve-month period following this commitment, Cintas Corporation did not utilize Frost Brown Todd LLC for legal services.
  • 5This filing highlights the company's adherence to its governance commitments.
  • 6The disclosure emphasizes transparency regarding potential conflicts of interest.

Frequently Asked Questions

The main purpose of this 8-K filing is to disclose Cintas Corporation's adherence to a prior commitment regarding the use of legal services from Frost Brown Todd LLC, a firm where the son of a board member is a partner.

There is a potential for a related-party transaction due to Scott D. Phillips, a partner at Frost Brown Todd LLC, being the son of Cintas's Board member David C. Phillips. However, the company has disclosed its commitment to limit legal spending with Frost Brown Todd LLC and has complied with that commitment during the relevant period.

No, during the twelve-month period following the commitment made in September 2010, Cintas Corporation did not utilize Frost Brown Todd LLC for any legal services.

This filing demonstrates Cintas's commitment to corporate governance by proactively disclosing related-party relationships and adhering to its stated policies for limiting such engagements, thereby maintaining transparency with its stakeholders.